Companies of all types have found a new, but possibly risky, way to rouse up new business.
Each year, many companies design software needed for their individual needs. Many of those companies are now marketing that software, essentially getting into entirely different industry.
What comes along with that, however, is a lot of work. The software industry involves a great deal of managing the software which is sold, fixing bugs and customer service.
For some companies, the change of gears results in a permanent change of business, finding they can do more business with their software than their original business plan. For most though, they find the software business more trouble than it’s worth.
Colin Pope with the Austin Business Journal explains risks and benefits in the video above.